HF 4733 Summary

• Eliminates commercial and industrial property from the state general levy effective for taxes payable in 2023, removing the $716,990,000 levy on commercial-industrial property.

• Maintains the state general levy on seasonal residential recreational property at $41,690,000 for taxes payable in 2020 and thereafter.

• Repeals subdivisions 5 and 6 of Minnesota Statutes 2020, section 275.025, which provided underserved municipalities distribution and natural gas pipeline abatement provisions.

• Requires the commissioner of revenue to certify preliminary state general levy rates by October 1 and final rates by January 1 each year for seasonal recreational property only.

• Makes all changes effective beginning with taxes payable in 2023.